Is Binary.com a Scam

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Is this a scam?

Figure out if you are being scammed and what to do about different types of scams.

On this page

Figure out if you are being scammed

Use these questions to help figure out if you have been targeted by a scammer.

This page provides more on how to stay safe from scams generally so you know what to look out for.

The COVID-19.govt.nz website has some helpful links to other government resources to help you recognise and stay safe from scams.

Has someone contacted you unexpectedly?

Most scams start with an approach through contact you weren’t expecting. If someone contacts you out of the blue – whether over the phone, through the post, by email, on a website, in person or on social media – always consider the possibility that it may be a scam.

Have they promised you something?

Scammers offer exciting advantages to get you interested. They promise things like easy money, great bargains, inside knowledge or a caring relationship.

Have they asked you to do something?

Scams eventually lead to a request for money or personal information. Scammers ask you to do things like enter details on a website, answer questions in a survey, or pay upfront for what they have promised.

If you think you’re caught in a scam, click on the situation that seems most like what’s happening for advice on what to do.

Someone is asking me to:

Gift cards or iTunes vouchers are a common currency for scammers. Scammers can contact you pretending to be from a government department, law firm, telco or other trusted business, suggesting an urgent payment needs to be made using iTunes or other vouchers in exchange for solving an issue. It can be to cover a tax, fine, legal fees, bills or any other costs. Scammers usually put some pressure on you, saying that you or somebody from your family might face criminal charges, lose immigration visa, or employment status. After the vouchers or cards have been purchased they will ask you for the voucher codes that they later on sell online at discount prices.

To avoid gift card or voucher scams, remember:

  • Government departments or private business never demand payment in iTunes vouchers, supermarket vouchers, or other kinds of gift cards.
  • If you receive a call from a business or government department or business informing you that something will happen unless you make an immediate payment you can hang up and search their Customer Service number on Google or in the phone book – they will have a record of what you may or may not owe them.

Advance fee fraud is when someone asks you to pay a fee in order to get something valuable. Promises made in this kind of scam can include inheritance payments, overseas trips, job offers or cars. But any kind of offer that seems enticing and is made by someone you don’t know, could be the beginning of advance fee fraud. The scammer will take your payment and never deliver what was promised. Sometimes advance fee fraudsters will say a number of payments are needed to release your prize, but the promised prize does not exist.

If you have given money to an advance fee scam:

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  • stop all contact with the scammer
  • contact your bank or the institution you sent money through
  • report the scam to Netsafe, who can advise you on what to do next.

To avoid advance fee fraud:

  • do not pay money to someone you don’t know well — or haven’t met in person.
  • See an example of advance fee fraud on our case studies page.

A remote access or technical support scam is when someone offers to fix a problem with your computer by connecting to it. This might be via an unexpected phone call or fake online advertisement. They will often claim your computer has a virus or internet issue, and ask you to provide login details or direct you to a website. Then they search your computer for personal information, which could be used to steal money or commit identity fraud. A scammer with access to your computer can also monitor your online activity to discover internet banking passwords or government service logins.

If you have given remote access to your computer:

  • shut down your computer
  • phone your bank
  • do not use your computer until it has been cleaned by a technician
  • report the scam to Netsafe, who can advise you on what to do next.

To avoid remote access scams:

  • do not engage with anyone who offers to fix your computer or install software
  • contact a reputable listed technician if you need help with your computer
  • use different passwords for different online accounts and consider two factor authentication.

See CERT NZ’s website for more on two factor authentication.

See an example of a technical support scam on our case studies page.

Phishing is when you are sent an email or text by someone claiming to be from a bank, other financial institution or government agency. They urge you to click on links and enter personal and financial details into fake websites that look like the real thing. Your details can be used by scammers to spend or steal your money.

Banks will never contact you by email to confirm personal or financial information.

If you have given information in a phishing scam:

  • alert your bank
  • use the bank or agency’s official website to change any passwords entered on the fake site — find the official site using a Google search or by checking your bank card or statement
  • report the scam to Netsafe, who can advise you on what to do next.

To avoid phishing scams:

  • don’t click on links in emails claiming to be from a bank, other financial institution or government agency
  • if you need to contact your bank or a government agency, use the official phone number or website.

See a phishing scam example on our case studies page.

An upfront payment scam is similar to advance fee fraud, where you are asked to pay for something in advance. This can include goods or services at bargain prices. Sometimes a scammer will say this deal is available for a very limited time to make you act fast.

If you have given money to an upfront payment scam:

  • stop all contact with the scammer
  • report the scam to Netsafe, who can advise you on what to do next.

To avoid upfront payment scams:

  • be cautious whenever goods, services or experiences are advertised at a price that seems much less than their value
  • check for seller feedback if shopping online.

See an example of an upfront payment scam on our case studies page.

Finance and investment frauds come in many forms. A scammer will approach you unexpectedly with an investment product or opportunity that promises great returns. Often their website, references and materials look like the real thing. Investment scammers produce fake financial reports, forged share certificates and glossy initial public offerings to convince people to give significant amounts of money.

It’s illegal to sell financial products through a cold call in New Zealand. If you’re contacted in this way, it’s likely to be a scam.

If you have given money to an investment or finance scam:

  • stop all contact with the scammer
  • do not make any more payments
  • report the scam to Netsafe, who can advise you on what to do next.

To avoid finance and investment scams:

  • invest in businesses regulated in New Zealand
  • get financial advice before making any investments, and don’t be pressured into a quick decision
  • follow advice from the Financial Markets Authority on ways to protect yourself.

See an example of an investment scam on our case studies page.

Buying cryptocurrencies or using crypto-exchanges can put you at higher risk of being the target of a scam or fraud.

Scammers promote cryptocurrency sale and exchange as a way to catch you in phishing scams, upfront payment scams, and various forms of finance and investment fraud.

Cryptocurrency is also used in a new wave of Ponzi and pyramid schemes. In these scams, it can seem like the value of your currency is growing when it’s not. What looks like a return on investment is actually money from joining fees charged to other people who think they are buying cryptocurrency. Beware of false reassurance from people you know — your friend, family member, neighbour or co-worker may be caught in a scam without realising it.

If you have given money to a cryptocurrency scam:

  • stop all contact with the scammer
  • do not make any more payments
  • report the scam to Netsafe, who can advise you on what to do next.

To avoid scams related to cryptocurrency:

  • take time to research any investment opportunities you’re considering
  • be sceptical if someone offers — or says they get — high returns for little risk
  • follow advice from the Financial Markets Authority.

See CERT NZ’s (external link) website to learn about keeping your cryptocurrency safe.

An invoice scam asks you to pay an invoice, which a scammer might claim is overdue. This can be easy to spot if the invoice is unrelated to your life, but scammers can go to great lengths to find out which services you use. Then they create an imitation invoice that looks like a real one, but with different payment details.

If you have paid a fraudulent invoice:

  • contact the police
  • report the scam to Netsafe, who can advise you on what to do next.

To avoid invoice scams:

  • communicate with service providers and tradespeople in person where possible
  • be wary of any changes to agreed payment processes
  • phone the service provider on a number you have used before the invoice arrived to check any changes to their bank account or preferred payment method.

See an invoice scam example on our case studies page.

Scams are often connected. If someone asks you to participate in an unexpected survey, they could be trying to gather information they can use to build your trust during a future scam.

See an example of survey information being used in a scam on our case studies page.

Phishing scams, attempts at identity theft, and fake websites are all scams that could ask for credit card or banking details. There is potential risk whenever you enter your credit card number online. Scammers have been known to create online shopping websites that look legitimate. After you pay by credit card, your order is never delivered and you can’t get your money back.

Fake website scams can take time to reveal themselves because an agreed delivery time passes before you get suspicious. Scammers also imitate charities that carry out donation campaigns on the streets to trick people into giving money or credit card details.

If you have given financial details in a scam:

  • cancel your credit card
  • change your online banking password.

To avoid giving financial details to a scam:

  • only enter your credit card details on a website if you are certain it’s legitimate.

See our advice on reducing your scam risk for more tips.

A recovery scam is when a victim of a scam is targeted again — this time by someone claiming they can recover lost funds for a fee. If you have sent money overseas, it’s not uncommon for a fake enforcement agency to offer to get it back if you pay them a percentage. These offers are not genuine.

If you have given money to a recovery scam:

  • stop all contact with the scammer
  • contact the police.

To avoid recovery scams:

  • ignore anyone who claims they have special knowledge of how to recover funds lost in a scam.

See a recovery fee scam example on our case studies page.

Affinity scams or romance scams rely on your good nature to build a relationship before asking for money or involving you in crime without your knowledge. This scam usually arrives by email, in social media or through online dating. Scammers may use fake photos and claim to be from New Zealand or working overseas. Successful scammers are good at convincing you. They ask questions about what you want in your life. They will be thoughtful, caring and looking for a soul mate. Once the relationship is established, they ask for money or ask you to handle accounts for them.

Non-complicit mule scams ask you to receive and move money or contraband, eg stolen goods. If you’re asked to set up a bank account for someone you met online, there’s a high chance they plan to use you as a money mule. In this scam, you’re asked to receive money from someone who says the funds are coming from a business venture. This is not true. Money mule scams use trusting people to receive the proceeds of other scams, then transfer the money on to the scammer.

If you have given or received money in this kind of scam:

  • contact your bank or the institution you sent or received money through
  • contact the police
  • report the scam to Netsafe.

To avoid affinity scams:

  • confirm the identity of the person building a relationship with you — asking for a photo is not enough because these can be fake.

Our reducing risk page has tips on checking an online contact’s identity.

See our case studies page to learn more about affinity scams.

There are many different types of advance payment and advance fee scams. Sometimes a scammer will fake an interest in an advert to trick money out of the person who listed it. Common targets for this scam are people who advertise for flatmates or sell something online. The scammer will give a reason why they can’t meet the ad’s exact terms, and will promise to pay more if you can cover a cost for them in the short term. After you pay, the scammer either asks for more or won’t respond to contact.

Scammers responding to advertisements can also attempt to use you as a money mule. They deliberately overpay you for something, then ask you to refund them the overpaid amount. The initial payment was actually made by the victim of another scam, and the money you send back to the scammer are proceeds of this crime.

If you have given money to this kind of scam:

  • stop all contact with the scammer
  • contact your bank or the institution you sent money through
  • report the scam to Netsafe, who can advise you on what to do next.

To avoid advance payment scams:

  • always get references or check buyer feedback when you consider people who reply to ad listings.

See our case studies page for an example of an advance payment scam.

Money mule scams ask you to receive and move money or contraband, eg stolen goods. Money in these scams is often the proceeds of crime. One common scam is to list job vacancies where potential employees are promised they can work from home and make easy money.

If you have accepted a job like this:

  • stop all contact with the scammer
  • contact the police.

To avoid unknowingly becoming involved in crime as a money mule:

  • don’t accept work that involves receiving and transferring money
  • carefully research any employers offering this kind of work.

See examples of money mule scams on our case studies page.

If you have given money or personal information to a scammer:

  • stop all contact with them immediately
  • contact your bank or the institution you sent money through
  • report the scam to Netsafe and follow their advice.

The first thing to do if you discover you’re being scammed is stop all contact with the scammer.

Take care

It’s important to be suspicious because scammers have ways of making their offers seem real.

Beware of the false sense of reassurance that can come from tricks like these:

Scammers can convincingly imitate the logos and communication style of trusted companies. They are known to make fake websites, ID badges, letterheads and other materials to fool people into giving money or information. Just because the opportunity looks legitimate, doesn’t mean it is.

Scams can come from within New Zealand. International scammers also use fake location data to appear as if they are in your city or country. An opportunity isn’t necessarily safe just because someone uses a local telephone number, contact address or a .nz domain name.

Scammers can learn private details through computer hacking or by taking mail from your letterbox. They use this information to build your trust. If someone offering an opportunity knows a lot about you, it doesn’t mean the opportunity is real.

Scammers appeal to people’s emotions and are experienced at building trust to eventually exploit the relationship. When you develop a relationship with someone over time, it can be hurtful to think their interest in you may not be genuine. But if someone you met online eventually asks you to send or receive money, stop and think.

If you have noticed or been caught in a scam, report it to Netsafe.

Test your knowledge!

If you receive an unsolicited text from your bank or service provider asking you to provide personal information, should you give it to them?

No! If it’s unexpected it may be a scam. Stop and think, is this for real?

7 Binary Options

Binary.com is an extremely popular and respected broker among those who are interested in binary options trading. Some of you are probably wondering if there have been any complaints lodged against Binary.com. 7binaryoptions.com is pleased to report that we have not received any complaints regarding this broker or their trading platform for the past several years.

Here at 7binaryoptions, we highly recommend trading with regulated binary option brokers as they must strictly adhere to rules and regulations. Binary.com is regulated by the Gambling Supervision Commission in the Isle of Man, as well as the MGA (Malta Gaming Authority). This provides traders with a sense of security as they perform their trades in secure environment because they know that they get full protection in case if something went wrong. Being a licensed and regulated broker is another reason why traders trust Binary.com and chose to trade with them as their favorite broker.

Binary.com is always transparent when conducting business and is in no way associated with any of the many binary scams that are popping up everywhere. Binary.com is the proud possessor of the 7binaryoptions.com’s Secure Binary Broker Certificate that is awarded to only the most trustworthy and reliable brokers by 7BO. Traders must continue to provide quality service to their traders, as this certification is only valid for a short period of time. This is yet another reason we think Binary.com is an outstanding broker.

Is Binary.com a Scam?

Is Binary.com brokerage platform is scam? To answer one of the most common questions any educated binary trader asks when searching for a broker like Binary.com, no Binary.com is not a scam. It would be highly unfair to both our readers and those associated with Binary.com to say such a thing. It is understandable, however, that with the number of binary trading platforms available online today, that traders are overly-cautions.

Binary.com was launched over 14 years ago and has been one of the leading financial betting websites since its origin. Since then, Binary.com has been able to update and modify its range of products multiple times. They offer a wide variety of options for binary trading.

Binary.com is owned and operated by the Regent Markets Group, which was previously known under the names Fixed Odds Group and BetOnMarkets. They have had outstanding success since their origin and have been a favorite amongst those traders who love to gamble in the financial market.

After reading numerous reviews, feedback and comments on multiple forums from traders who have utilized the website, it is safe to say that Binary.com is not a scam site. To this date, no trader has reported any negative or damage experiences with Binary.com. There are no records of alerts nor complaint regarding Binary.com scams. We can confidently recommend Binary.com to those interested in binary options trading. However it is important for traders to choose a broker using extreme caution as there have been literally hundreds of binary options scams that occur online every day

We see no reason for concern when working with Binary.com as they are considered among the best traders in the business. However, before registering with Binary.com, you should be fully aware of the type of services they offer as well as their features of their trading platform.

The Binary.com trading platform is designed for those who are new to binary options trading as well as advanced traders. All traders have full access to the demo account with virtual money once they make a minimum deposit with Binary.com.

The demo program will give the trader the option to learn a few things about the trading platform before they actually begin live trading with their own money. The Binary.com trading platform has been such as huge success due to its strong foundation and its solid strength in various financial markets

Binary.com is not a scam. It offers a safe and reliable trading experience for all of their traders, along with the help of their highly skilled team. At the present time, Binary.com is among the premier platforms when it comes to binary trading for both novice and experienced traders. Their outstanding services have drawn many traders to Binary.com.

Binary.com USA

There has been a great deal of confusion in the United States regarding the legality of binary options trading. This can be attributed to the recent growth of offshore binary trading, OTC contracts and the off-exchange which is currently being offered. Binary.com USA is a gray area, not as much due to the legal nature of the matter, but rather about being listed as a legitimate and authentic exchange in the U.S. The legislation hinges on whether brokers and binary options firms are properly registered or regulated to provide trading contracts to US residents at this time.
At the current time, offshore brokers are unable to trade with retail consumers and residents in the United States. The law strictly prohibits solicitation of US resident to trade in commodity options, even if they are defined as prediction contracts, unless they are legally exempt or listed specifically for the sole purpose trading on a CFTC registered exchange.

Binary trading has a fixed payout which is generally determined at the very start of the trade. If the prediction is in fact accurate, the trader will get the agreed upon payout. However, if the prediction is not accurate, the trader loses their initial bet. These options are labeled as binary options because there are only two probable results: correct or incorrect.

Binary trading is flexible as traders are able to execute trades in various markets ranging from stocks to currencies and from indices to commodities. They can participate in every type of market transaction such as up/down, touch/no touch and stays in/goes out. Payouts range from one dollar to hundreds of thousands. It is a great option for both novices and professional traders.

Professional investors and bankers prefer to trade in the binary options market as the over-the-counter markets are now derivative. USA traders are feeling rather put out as many professionals in the financial trading industry prefer to use the Binary,com platform as it extremely flexible for high volume trading.

Binary.com, formerly known as BetOnMarkets.com, was owned and operated by Binary LTd. It is regulated and licensed in the Isle of Man. Binary.com has been offering financial trading opportunities on a global market for over 15 years and has over three hundred thousand clients at this time. They are now expanding their wide range of services by offering a wide array of Smart Indices in their launch of Outperformance Indices. These measure the performance of indices in relation to one another. The indices amount to ratios of spot pricing for all underlying markets multiplied by the figure of one thousand.

Is Binary.com Regulated?

Binary.com is regulated by the Gambling Supervision Commission in the Isle of Man as well as the Malta Gaming Authority. They received their online gambling license in August of 2020. They were once known under the name of BetOnMarkets. Binary.com runs its platform in a transparent way under the direct supervision of the proper regulatory authorities.

The above facts are indicators that Binary.com is 100% legitimate as Binary Option Robot. They also belong to the Regent Markets Group. They use their own platform, which offers some unique and outstanding features that are highly innovative in the binary options market. These features include expiry times, asset classes and betting amounts. The platform is extremely easy for new traders to navigate. It also offers bonus features to those traders who have more experience such as it advanced charts and technical indicators. These helpful charts help traders make an accurate technical analysis of the probabilities of a particular trade.

Binary.com is also well known for as having one of the fastest expiry times on today’s market. Binary.com’s trading platform offers its traders a “Tick Trade” in which they can predict where the market will increase or decrease after five ticks. In other words they are trading with a ten-second expiry. Binary.com is perfect for those traders who are looking to place some quick bets.

Binary.com is the perfect place for those new to binary options to get some experience and training. They offer a wide amount of tutorials as well as explanations about the basics involved in binary options trading. Since Binary.com is licensed and regulated, traders need not be concerned. The only drawback is that US residents are not able to utilize the platform.

Binary.com is extremely popular worldwide as it only requires one Euro/GBP/Dollar to open an account with a minimum deposit. Registering with a regulated broker is a great way for a trader to safeguard their funds and also give them the peace of mind knowing that their hard-earning money is safe with Binary.com.

The financial market works like an Over the Counter market thus it becomes tough to subject binary option brokers to such a strict set of rules and regulations, so financial rules and regulations plays a vital role in protecting investors funds while they are in the hands of the broker. In this manner, Binary.com works hard to protect its trader’s funds. They also ensure that their operations are accountable to fiduciary regulations by strictly adhering to the standards set by the governing and regulatory bodies in the financial market.

Binary.com Mobile Trading

At the current time, Binary.com mobile is not being offered. However, Binary.com is developing a mobile application along with Phonegap. They are an open-sourced client application on Github. Binary.com is a strong supporter of the open-source movement and are involved in open-sourcing multiple codebase components. When it is available, Binary.com mobile trading will be extremely simple to use and promises to deliver fast results. It will be able be used everywhere and will include all of their current options that are offered on their online site. Traders will be able to use it while on the go and execute trades from anywhere. They will also be able to keep an eye on their open options as they will be able to follow the market at all times.

There are several platforms that have already been optimized for the use on mobile devices for binary trading. There are quite a few native apps that are available for IOS and Android users alike. These are Web-Apps which work independently of the operating systems but work directly in smartphone browsers for those who have internet access or mobile date for their mobile device.

The invention of potent smartphones has helped make the transition from personal computers to mobile binary trading a great deal easier. It has paved the way for the possibility of a Binary.com mobile app in the near future. However, since many of today’s smartphones have about the same capabilities as the average PC or laptop, traders are able to monitor their trades and are also able to take advantage of new trades regardless of their location, with or without the use of Wifi or a modem. Most binary options brokers are aware that this is a great feature for their traders so they are seriously considering creating mobile platforms that are advance so they will be able to provide Web-Apps for their clients.

Binary options is such a simple means of financial trading and there are not a great deal of requirements for a mobile platform. Binary options can easily be threaded over smartphone devices. Traders do not need as many features to be able to utilize Forex Trading or Contracts for Difference. All a trader will need are details such as expiry times and charts regarding their options. Buttons will be available with an interface to enter the amount of the trade. Binary options trading on a mobile device should be relatively easy, regardless of whether the trader is using an Andriod, Iphone or even an Ipad.

What are binary options?

Binary options are a sort of exchange-traded contract used for getting income from the performance of assets (currencies, shares, goods) in the global financial markets. In making a deal, the purchaser of binary options forecasts the asset’s price change. This financial tool has a fixed price, contract expiration time. and paper profit margin known in advance.

Are binary options a fraud? A professional assessment

FraudBroker.com is an investigation center for shady transactions of binary brokers, along with Forex and CFD brokers, stock brokers, cryptocurrency exchanges, etc. Our team of experts – professional traders dealing with various brokers – is ready to provide our website guests with precise information about whether any given financial market broker is a scam artist or not.

Our customers ask: «Are binaries the real thing or a scam?», «Is Forex a scam?», «Is cryptocurrency a real thing or a scam?» – everyone is concerned about professional opinions. That is because in trading in various markets there are many fraudulent brokers whose sole mission is to get trader’s money and do their best to make him lose. They may tamper with price behavior charts, may leave a trader without a payout, may just disappear and go silent or tap into other contrivances just for one purpose: to play you. Our professionals are ready to assist you in finding reliable brokers.

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«General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all of your funds. You should never invest money that you cannot afford to lose».

Our aim is to expose scam schemes and provide traders with reliable information on which they can based safe trading decisions. Please check our completed reviews to know if a broker works according to terms imposed by regulatory institutes. If you are not able to find information on our site, make a request to initiate a review scrutinizing the broker in which you are interested. Just fill out the application form. We will investigate the broker’s activities and send you the results by email. Due to a large number of requests to investigate the activities of brokers’ who show signs of cheating, we will provide you with an answer in the shortest time possible, likely a few weeks. We strongly recommend you send your request us as soon as possible to secure a place in the queue.

Binary options – is this a scam or not?

The idea that binary options mean cheating novice users comes from the fact that sometimes even the best brokers may be marked as not being utterly honest. Our goal is to provide complex reviews that are based on the real trading experience. Only then can we be sure that a particular broker is cheating. Binary options trading is one of the most rapidly growing financial industry sectors. That’s why the scammers are trying to get in on this market. We would like to help you to expose that kind of market participant and avoid possible harm. Our team of experienced binary options traders has worked professionally for over 5 years in the financial markets. We know how to spot the scammers.

Is Forex a scam?

Apart from investigation of the activities of binary brokers, we study companies that give traders a chance to earn income by investing in other financial markets. The currency market forex is for good reason among the best ways to get a decent income from trading currencies. It works 24 hours a day, is available for traders of any wealth, and, due to internet technologies, it’s easy to become a part of it just by going online from a home computer. Of course, apart from various advantages, it has also led to the emergence of a huge number of scam brokers. They seduce traders by promising them high earnings, unreal payout percentages, and lucrative bonuses, but instead disappear immediately after the funds are collected.

The mission of FraudBroker.com is to study the activities of market brokers providing trading services on Forex and to caution traders against problems they may face by catching scam artists. How do you identify a swindler and a cheat among many Forex brokers? Check brokers for possession of a license and work on their demo accounts carefully. Also have a look at the current rating of verified Forex brokers and read the references of traders about them right now on the specific webpage.

Is CFD a cheat and a scam?

CFD (contracts for difference) have been especially popular with traders recently as they allow traders to essentially make money on the difference of prices of various assets: raw materials, metals, currencies, etc. There is no purchase of assets here, no solution offered for the issue with title documents and so on. This aids interaction between trading parties, lets a trader earn both from assets appreciation and loss. Dealing with CFD is lucrative, quick, and easy.

Taking into account the high popularity of this market many brokers immediately started offering access to its capacities, which is not bad in general. However, today there are a lot of suspicious companies, too, with unique bonuses in their arsenal and guaranteed high income from investments in CFD from small traders’ efforts. How do you choose a reliable CFD broker and not lose your money? For our website users, we have prepared an urgent rating of CFD brokers, where they can not only read the detailed brokers reviews, but also study real traders’ feedback about them.

Is cryptocurrency a scam or the real thing?

Cryptocurrency is popular and one of the most volatile assets of our time. It is among the most vital financial markets and lets you obtain income by purchasing and selling digital coins. This growing market resulted in the whole cryptocurrency boom, and we all are unintentional witnesses of its rapid development, have hot discussions on the latest news of digital assets dynamics, become tokens holders etc.

Such attention to cryptocurrency couldn’t help but generate a large number of scam lottery websites and fraud projects in the market, which were created just for one purpose – to take over traders’ cryptocurrencies and disappear. How «not to fall in their hands» and to keep and multiply your digital money are the topics the team at FraudBroker.com works on. You can read a lot of informative articles about cryptocurrency and digital assets trading strategies, along with detailed reviews of cryptocurrency exchanges and brokers allowing trading digital tokens.

Is the stock market a scam and a fraud?

The stock market is one of the oldest financial markets allowing any concerned user to make money investing in shares of the major companies and brands, and it is popular all around the world. For instance, a trader may easily become a holder of shares of Coca-Cola, McDonald’s, Apple, Adidas, Starbucks, Gasprom, Nornikel, etc. Shares have always been among the safest assets, and the chance to become a holder of assets of famous brands is appealing to solid investors. With the emergence of the huge market of internet technologies, the chance to get a decent profit from stock trading only increased, and ordinary people became concerned about them, too.

Obviously, there are not only fair stock brokers in this oldest market, but also websites promising naïve traders heaps of money when in reality they are fraudulent scams. How do you choose a reliable stock broker? On the project website FraudBroker.com you can not only study the up-to-date ratings of stock brokers but also read a huge number of reference materials about trading in the stock market.

Our team

John Reichard, 38, New York City, USA

Hello! I’m John Reichard. I will be glad to help you. Not many people could boast that their profession and hobby are the same thing. For more than 5 years, I have analyzed binary options brokers. I devote my time to trading and market research, and I’m ready to share my experience. My goal is to guard myself and other traders against thieves. I have opened accounts with different brokers to check their trading platforms and payout obligations, so everyone knows what firms are honest and which are just running their scam schemes and robbing the clients.

Floyd Lewis, 33, Toronto, Canada

For over 8 years I’ve specialized in binary options, robots, and signals. I have been a computer engineer and programmer. After my second daughter’s birth, I started working from home. I personally check the binary options robots and signals, different trading strategies and tactics. My aim is to verify whether programs are working properly or not, in order to determine winning strategies in these systems.

Kevin Murray, 29, London, England

I have a master’s degree in finance management and specialize in Forex trading and binary options. I’ve been the senior consultant with a project called FraudBroker.com since 2020 and have devoted most of my time to lead traders in the right direction. The latest articles on this site are mine. Now I’m a daytime trader with over 5 years’ experience in the binary options industry. People regularly contact me to ask my professional opinion on various things, including binary options scammers.

Recognize how to avoid scamming

Cheating is possible. First of all, you must ensure that your broker has a certificate issued by one of the regulatory institutes. Verify if there are any positive or negative remarks on the Internet. Pay attention to the conditions of the services that brokers provide, including trading conditions and bonus-receiving conditions.

You can ask your questions online using an online chat application or request a telephone call and ask your questions this way. Furthermore, you can request the broker’s verification and wait until we determine if there are signs of cheating and deceiving.

How to choose a decent binary options trade broker?

The choice of the right binary options trader is the first step to a successful trading career. Actually, it is really hard to choose an honest broker out of the more than 350 working firms on the market. That is why we at FraudBroker.com decided to intervene and help visitors on our site. We have ample knowledge about how to choose a binary options broker. Our site is a good place to do the first steps in binary options trading. If you are not utterly sure that your broker is reliable, we would advise you to choose a broker number 1 from the list above and start trading safely by having a broker whom the FraudBroker.com team members trust.

Dear guests, please give us your opinion about binary options and answer a few sociological poll questions:

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Trusted Binary.com Review 2020

Table of Contents

Is Binary.com a trusted online broker or a scam? – We will find out in this review and give you a professional overview of the company. Binay.com is a well-known Forex Broker for international investments. Since 2000 the company got a track record in online trading. In the next sections, we will show you how the platform works and find out if you should invest your money or not.

Official Binary.com website

Platform available for any device

Professional trading interface

Huge range of payment methods

Review: (5 / 5)
Regulation: VFSC, FSC, FSA
Demo account: ✔ Free
Minimum deposit: 5$
Minimum trade: 1$
Markets: Forex, Cryptocurrencies, Metals, Commodities, Indices, Volatility Indices
Products: Binary Options, Forex, Crypto, CFDs,
Yield: up to 100%+, 1000% on higher/lower and touch/no-touch trades
Support: 24/5 phone, chat, email in different languages

(Risk warning: Your capital is at risk)

Is Binary.com regulated?

Before you sign up with any online broker you should check if the company is official regulated. This is the most important point to check and we will discuss it in the first section. Regulation means safety for the trader. On the internet, there are brokers which operate illegally and try to scam their customers. In order to invest in a serious company, there should be regulation.

A regulation shows trust and safety because the company has to be legal and act under certain laws of the regulatory authority. Binary.com is a licensed and regulated trading platform which is active since 1999. Different subsidiaries belong to the holding Binary Limited. This company is multi regulated and got different licenses.

Binary Investments (Europe) Ltd

Binary Investments Ltd is regulated by the Malta Financial Service Authority (MFSA) with the license number IS/70156. The company is allowed to provide its service in every European country. The company address is W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta.

Binary (SVG) Ltd

Binary (SVG) Ltd is registered with the company number 25299 BC 2020. International clients who want to trade Binary Options trade under this license. The address is Hinds Buildings, Kingstown, St. Vincent and the Grenadines.

Binary (V) Ltd

Binary (V) Ltd is regulated by the Vanuatu Financial Service Commission (VFSC). International clients who are trading forex and CFDs in the MetaTrader 5 are managed under this license. The address is Govant Building, Port Vila, PO Box 1276, Vanuatu, Republic of Vanuatu.

Binary (BVI) Ltd

Binary (BVI) Ltd is regulated by the British Virgin Islands Financial Service Commission and customers for the forex and CFD MetaTrader 5 are under this license. The address is Kingston Chambers, P.O. Box 173, Road Town, Tortola, British Virgin Islands.

Binary (FX) Ltd

Binary (FX) Ltd is regulated by the Labuan Financial Service Authority in Malaysia. MetaTrader 5 clients are served by this license, too. The address is Lot No. F16, First Floor, Paragon Labuan, Jalan Tun Mustapha, 87000 Federal Territory of Labuan.

In conclusion, Binary.com is a multi-regulated company and broker which accepts international clients. Fraud can be excluded by a view on these licenses. From our experience, Binary.com shows that more than 1 regulation is not enough and now they are a highly trusted online broker.

Financial security: Is Binary.com safe for traders?

Financial security:

How safe is the trading platform? – We checked the financial security for traders and got very good results. Binary.com only uses regulated payment methods for deposits and withdrawals. You can be sure that the money will be credited to your trading account and the withdrawals are working correctly.

Furthermore, the funds of the clients are managed in secure and licensed financial institutions. The broker does not use your money to do investments or hedge positions. Any time you got the full access to your account balance.

Security of the platform and account:

With Binary.com you can get very high account security. There are different options available which we want to present to you in this section. First of all, traders can enable two-factor authentication for the account. This is additional security because it is nearly impossible to hack your account. Before you login, you have to confirm the login with another device.

Also, Binary. com provides a clear login history of your account. You can set up a cashier lock password to secure your deposits and withdrawals. All in all, Binary.com provides very good safety features for traders. From our experience, it is a very safe platform. (See the picture below for all features)

What is behind Binary.com – History of the company

Binary.com was founded in 1999 by collecting investor’s money from a HongKong based fund management company. In 2000 the company goes live with the old name “Betonmarkets.com” and “Xodds.com”. Since this time the company achieved different milestones and attract a rising customer base.

On the Binary.com website, you can clearly see the group history which is very amazing. The company expanded internationally and collected different licenses for financial trading to serve clients from over the world. In addition, their platform is patented in the USA for the pioneer of Binary Options trading (Wikipedia).

2020 the company changed the name into “Binary.com” and reached a turnover in 2020 of 2 billion USD since 1999. More and more customers want to trade with Binary.com because the platform is unique and offers very good conditions. Nowadays, Binay.com manages offices in Japan, Kuala Lumpur, Dubai, Paraguay, and more countries.

In 2020 there are more than 100,000 active clients on the platform and the numbers are still growing. In conclusion, Binary.com is a very trusted broker in the trading industry which is leading the binary trading section. The broker is growing continuously because of the good conditions and unique trading platform. The company always adds new features and opportunities to invest in the financial markets.

Facts about the company:

  • Founded in 1999
  • International offices and licenses
  • Rising customer base
  • Unique and patented trading platform
  • Global awards

How to open an account with Binary.com:

It is quite simple to open a trading account with Binary.com. You can sign up with your email address or social profile (Google and Facebook). The process is done in a few seconds and you get direct access to the trading platform. Now you can use the demo account with virtual money or continue the registration process.

Open your free account

The account opening is free for any trader. There are no hidden fees or commissions for you:

(Risk warning: Your capital is at risk)

Important verification process

For trading with real money and full access to all functions of the trading platform, verification is needed. You have to fulfill your account profile and upload personal documents that are checked by Binary.com. It depends on your country of residence which documents the broker needs to check your identity. Binary.com can request a copy of your passport and utility bill.

The account setup is done in a few minutes. Just insert your personal data and upload the requested documents. Binary.com will confirm the profile within 24 hours. We recommend doing a full account setup before you start trading with real money.

Verification of your identity:

  • As regulated Forex Broker, the company have to check your identity
  • Documents can be requested by Binary.com
  • The account setup depends on you country of residence
  • Upload the requested documents
  • The full account setup take few minutes time
  • We recommend doing the verification before trading with real money

Use the free Binary.com demo account

One of the most important tools on the Binary.com trading platform is the demo account (virtual account). It is an account with virtual money (10,000$). This account allows you to test the platform without risk. Binary.com provides this account for free and you can switch between the real money and virtual money with only one click.

We recommend to any new user who wants to trade with Binary.com to use the demo account first. Check out the platform and open your first traders. Before you invest real money you should know how it works to trade and how to manage the trading platform. In addition, the demo account can be used to develop trading strategies and test new markets.

In conclusion, Binary.com offers a free demo account like any other broker. You can start trading without risk and test the platform by yourself. If you make a loss it is possible to deposit (recharge) the account.

Advantages of the demo account:

  • Use it for free
  • Test the platform without risk
  • Develope trading strategies
  • Try out new markets
  • Recharge the demo account with one click

Demo account vs. real account trading

Are the differences between the demo account and the real account? – From our experience, the execution of trades is very fast in the demo account like in the real money account. There are no differences between these two account types. You will get the same conditions.

In fact, real money trading can be more difficult because you will act differently like it is virtual money. The key to success is to learn to trade without emotions like in the demo account. As professional traders we recommend it to use the demo account like the real money account to gain the best experience in trading.

Payment methods for the account funding:

As you see on the official homepage of Binary.com there are more than 15 payment methods available for deposit and withdrawals. It is easy to fund your account. You can use different electronic methods or classic bank transfer.

Sometimes the payment method can depend on your country of residence. So do not be surprised if there are more or fewer payment methods available than in the list below or picture above. Note that the minimum deposit is 5$ with e-wallets but with other payment methods it can be higher.

Facts about the payment methods:

  • Minimum deposit 5$
  • No fees
  • Credit Cards
  • Electronic wallets (Neteller, Skrill, Qiwi, WebMoney, and more)
  • Bank Transfer
  • Instant deposits
  • Withdrawals in 1 working day
  • Cryptocurrencies

How to deposit on Binary.com:

To do a deposit on Binay.com go to the cashier menu and click on deposit. You only can deposit if your personal detail is approved by the broker.

You can deposit in different currencies. Also, cryptocurrency accounts are available with Binary.com. If you make a mistake by setting the currency it is possible to change it afterward.

Deposit checklist:

  1. Make sure your personal details are confirmed by the broker
  2. Go to the cashier menu
  3. Click on deposit
  4. Choose the payment method for the deposit

How to do the withdrawal:

The withdrawals are easy as the deposits with the broker Binary.com. In the cashier menu, you can choose “withdraw” to pay out your earned money. Note that you can set up a different security password for the cashier menu.

From our experience, the withdrawals are very fast. Within one day the withdrawal is processed. You will get an email if it is processed. Sometimes it can happen in a few hours. On the other side, the process can be longer if the broker requests additional documents from you. All in all, the deposits and withdrawals are working correctly and free from interference.

Offers for traders: Review of the trading conditions

Before we show you the full information about the trading platforms of Binary.com we have to talk about the offers and conditions for traders. As you know Binary.com is a Binary Options, Forex, and CFD Broker. In this section, we will give you a detailed overview of “what you can trade on the platforms”.

The minimum deposit is only 5$ and you can try out the free virtual account. The virtual account is the best way to test the trading platform. There are more than 100 different assets available by Binary.com. Cryptocurrencies, indices, commodities, currencies, or volatility indexes are tradeable. In addition, you can choose between different currencies for your real account balance or using cryptocurrencies.

The maximum return of investment for Binary Options is 100%+ and the maximum leverage for Forex and CFDs is up to 1:500. From our experience, there are no direct fees on the platform. Sometimes it can happen that your payment provider charges fees for deposit or withdrawal.

Trading conditions:

  • Return of investments up to 100%+ (Binary Options)
  • Leverage up to 1:500 (Forex and CFD)
  • More than 100 different markets
  • Minimum deposit 5$
  • Free demo account
  • Low fees compared to other brokers
  • High liquidity

(Risk warning: Your capital is at risk)

Test of the Binary.com trading platforms

For professional online trading, Binary.com offers 6 different trading platforms. This software is even available as an app (mobile trading). The platforms are designed for a variety of purposes and the trader can choose from. As mentioned before it is possible to trade different financial products with Binary.com. You can not trade all financial products on one platform.

From our experience, the platforms are very clearly designed and easy to use. They are for beginners and advanced traders. Besides, the well-known MetaTrader 5 is available for Forex and CFD trading. Automated trading can be processed by the Binary Bot which is a very unique platform. We will discuss the trading platforms in detail.

Trading platforms:

  • SmartTrader for Binary Options and Touch Options
  • WebTrader for Binary Options and Touch Options
  • Binary Bot for automated Binary Options
  • MetaTrader 5 for Forex and CFD trading
  • Deriv for Binary Options (beta version)
  • Binary Grid for the best mobile trading with Binary Options

SmartTrader:

The SmartTrader is a reliable trading platform for Binary Options. You can trade options with different expiry times, investments, and on rising or falling prices. In the picture above you see a screenshot of the order mask. For chart analysis, you have to look below. The design is very clear and the beginner should feel comfortable. In the following section, we will explain how to trade too.

For charting, you can use the chart below the order mask. Binary.com offers the tools which a trader needs for his success. You can change the timeframes and chart types.

Chart types:

For the chart analysis you can use indicators, drawing tools, comparisons between assets, or fundamental data. By a few clicks you can insert the indicator you want and customize it. In conclusion, the SmartTrader which is recommended for beginners offers all tools for professional and sucessfull trading.

How to trade Binary Options?

Binary Options is not a complex financial product. Compared to other financial product traders understand it very fast how it works. The features of Binary Options are clear and limited. Before you open a position you know the possible return of investment, your possible loss, the time duration and the direction of the trade.

Binary Options:

  • Rise/Fall (classic and most popular)
  • Higher/Lower
  • Touch/No Touch
  • Ends Between/Ends Outside
  • Stays Between/Goes Outside

Binary Options can be traded on currencies (Forex), indices, commodities, and volatility indices. Before you start trading you can customize your trading contract. The Binary Options is a contract between the trader and the broker.

Features of Binary Options:

  • Start Time
  • Duration (ticks, minutes, hours, days)
  • Investment (starting 1$)
  • Allow equals or not
  • Trade higher or lower

We recommend to do some test trades with the demo account before trading with real money. You should understand the financial product completly before real investments. The next picture will give you a deeper look in it.

In the picture above you see that you can invest in rising or falling markets. For “Higher” trades the exit spot has to be above your entry point and for “Lower” trades the exit spot has to be below your entry point. Just make a forecast of the market and start the trade.

Exit Spot:

For Binary Options only the exit spot is important. When the expiry time is over the price will be checked and you will get the payout or not. The yield can be up to 100%+. It does not matter if the price goes above or below within the contract duration.

All in all, Binary Options are very simple to trade. It is a popular financial product because you can earn a very high payout within a short period.

(Risk warning: Your capital is at risk)

WebTrader:

If you want to do more advanced trading you have to choose the WebTrader. This software allows you multi-charting and a full-screen mode. More features are available on the platform. You can customize your trading window as you want.

Traders can choose in the upper menu between trade, chart, resources, and workspace to customize the platform. As you see in the picture above you can open different windows at the same time. This is a multifunctional feature and allows you to make a deeper market analysis. In the next point, we will give you a quick overview of the functions.

Trade:

  • Open the order mask for your markets
  • Forex
  • Indices
  • Commodities
  • Volatility Indices

Chart:

  • Open the chart for your markets
  • Forex
  • Indices
  • Commodities
  • Volatility Indices

Resources

  • Make a deeper analysis
  • Asset Index
  • Trading Times
  • Historical Data
  • Chart Themes

Workspace:

  • Manage the charts
  • Arrange the windows
  • Close All

As you see in the points above you got a whole bunch of options for your trading style to customize. From our experience, the WebTrader is the best platform for Binary Options trading and better than the SmartTrader.

Binary Bot:

The Binary Bot is a unique feature of Binary.com. Most brokers do not allow automated trading on their platforms or it is not possible because the features are missing. Binary.com provides software where you can program your own automated system for trading Binary Options.

For the first impression, the Binary Bot is not a trading platform for beginners. You need knowledge, math, and programming skills. In addition, your strategy should work successfully. It is possible to create an automated system with any trading strategy by the Binary Bot. You can use math and logic commands on the software.

Binary.com will help you to program a system. There are some tutorials and knowledge about it. For further knowledge, you can read on the internet about automated trading or buy some programming books. The language of the Binary Bot is very easy but very hard to understand for beginners.

Create your Binary Bot

How does the Binary Bot work?

To create you automated trading system you have to open the right menu (red marked). There are different building blocks which you can insert in your system. There are mathematic and logic building blocks. Also, text programming can be used to create functions. If you inserted the block you can customize it like you want.

If you created the Binary Bot you can start to backtest it and improve the results by changing the system with a few clicks. The Binary Bot is clearly a huge advantage against other Forex Brokers because it is very easy to create an automated system. Binary.com provides you all the functions you need to create your system.

MetaTrader 5:

MetaTrader 5 is the most popular software worldwide for online trading. A lot of brokers offer this software because it is developed independently by programmers. Brokers are paying licenses for this software. The MetaTrader is available for your computer and mobile phone. You can create the account with Binary.com and download the program.

Moreover, MetaTrader 5 is a highly customizable software too. You can customize the chart as you want and using different tools. The software is supporting Forex and CFD Trading. 1-click trading even as automated trading is possible. There are a lot of different tools that you can individualize.

For traders who want to program their own indicators or automated systems, you can insert them easily in the software. The MetaTrader is enjoyed by millions of traders and it is from our experience the best software for forex and CFD trading.

Advantages of the MetaTrader 5:

  • Available for any device
  • Automated trading supported
  • Customizeable
  • Indicators and drawing tools
  • Chart types
  • Insert extern programs and indicators
  • Professional portfolio management

Deriv:

Deriv is a web-based online trading platform where you can trade Binary Options. Compared to the SmartTrader and WebTrader the design is a little bit different and known from other Binary Options Brokers. You see the chart which is customizable and next to it you see the orde mask.

Like the other platforms, you can customize the chart as you want. There are not so many differences between the platforms. We recommend to try out each platform by using the virtual account. The Deriv app is still in the development process. So it can be that Binary.com will add new features soon.

Mobile Trading with the Binary.com App

Mobile Trading is very important today. The customer base who trades with mobile devices is rising continuously. Binary.com offers different apps for Android and Apple (iOS) devices. You can download the on their platform.

Binary.com apps:

  • Binary.com Tick Trade App
  • MetaTrader 5 for mobile devices
  • Binary Grid App

Binary.com MetaTrader 5 App

The mobile apps are professionally designed and allow you to trade the financial markets with your mobile phone or tablet. Similar to the web-based platforms you can use indicators and analysis tools. With the mobile app, you always can check your portfolio. Another advantage of mobile trading is that you can react immediately to political decisions or news. In conclusion, Binary.com offers professional and reliable trading platforms for trading Binary Options, Forex, CFDs, indices, and cryptocurrencies.

(Risk warning: Your capital is at risk)

Support for traders

Which type of support can you expect from Binary.com? – There is a phone, email, and chat support for traders. Also, you can get in touch with the broker via Youtube, Facebook, Twitter, or Telegram. More than 10 different languages are available because the company manages international employes and offices. The website is translated into 11 different languages

The support works 24 hours on regular working days and responds very professional to my questions. If you got questions you can contact them or read through the help articles. Moreover, there is an intelligent support system where you can insert your questions and get the right answers very quickly.

Support: Available: Languages: Languages:
Phone, Chat, Email 24/5 on working days More than 10 +44 800 011 9847 (Toll-Free) (UK)

Service for traders: Education and learning material

Furthermore there is a diverse learning center for every customer of Binary.com. It is suitable for beginners and advanced traders. The variety of free offers is huge and we will show you what you can learn in this section.

To get access to the academy you have to open your free account with Binary.com. Deposits are not necessary for access to the academy. There are different offers like webinars, trading signals, beginner tutorials, e-books, and market updates. You can learn how to trade with educational videos. Also, next on the platform, you will find direct explanations of the financial products which will help you to understand it.

From our experience, Binary.com wants the success of its traders. If the trader is successful the broker can earn more revenue because the trader will continue to trade forever. There is a very good educational material to improve your trading skills. You should no miss the education center.

Learning material of Binary.com:

  • Live Webinars
  • Weekly Trading Signals
  • Beginner tutorials
  • E-Books
  • Security Tips
  • Educational Videos

Conclusion of the Binary.com review: Legit company and online broker?

All in all, Binary.com is the leading broker for option trading. In addition, you can trade Forex and CFDs with the MetaTrader 5 Platform. The company offers you a huge range of investment possibilities which we recommend to test by using the demo account.

The minimum deposit is very low by 5$ and you can start investing with only 1$ per trade. There are no limits for bigger trades. Binary.com attracts any type of trader because of its good offers. Next to the professional trading platforms, you can use legal automated trading which is compared to other Forex Brokers a big advantage.

Furthermore, company history shows us that Binary.com is a trusted and reliable broker. The company expands continuously and implement new features. It is a fully regulated broker which we recommend to trade with.

Advantages of Binary.com:

  • Multi-regulated company
  • Small minimum deposit of 5$
  • Free demo account
  • No hidden fees
  • Return of investments up to 100%+
  • Forex and CFD Trading
  • Professional trading platforms
  • Automated trading
Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!
    Sign-up Bonus!

  • Binomo
    Binomo

    Trustful Broker!

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